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Wal-Mart Stores yesterday reported a lower-than-expected quarterly profit and cut its annual earnings forecast

August 15, 2007 Wal-Mart Stores yesterday reported a lower-than-expected quarterly profit and cut its annual earnings forecast. Earnings rose to $3.1 billion (R22 billion) in the second quarter to July from $2.8 billion a year earlier, when it took a charge for selling its German stores. Earnings a share were 72c before a gain of 4c. Analysts were expecting 76c. For the full year, it expected earnings of $3.05 to $3.13 a share, down from an earlier view of $3.15 to $3.23. Analysts on average were expecting $3.16. – Reuters, New York